Peter Thiel-Backed Bullish Targets IPO Valuation of $4 Billion
16 minutes ago
Bullish, the cryptocurrency exchange backed by billionaire Peter Thiel, said it would be seeking a valuation of more than $4 billion in an initial public offering.
In a regulatory filing Monday, the company said it would be offering for sale 20.3 million shares at a price range of $28 to $31 each, or as much as $629.3 million. In addition, the underwriters have 30 days from the publication of the prospectus to purchase another 3.045 million shares. Bullish added that it planned to initiate the IPO “as soon as practicable after this Registration Statement becomes effective.”
It noted that BlackRock (BLK) and Cathie Wood’s ARK Investment Management have already agreed to purchase a total of $200 million worth of shares.
Chris Ratcliffe / Bloomberg / Getty Images
Bullish said it has applied to list on the New York Stock Exchange under the ticker symbol “BLSH.”
In its prospectus, the company reported its first-quarter trading volume grew 78% from 2024, and it had an average daily volume of $2.55 billion. Bullish also owns the CoinDesk crypto media site.
CEO Tom Farley said that “the digital assets industry is at the inflection point of institutional adoption and Bullish is uniquely positioned at the center of this market.”
DuPont Rises on Earnings Beat, Rosy Outlook
1 hr 51 min ago
DuPont (DD) shares rose Tuesday after the chemicals and materials manufacturer posted better-than-expected results and boosted its guidance on higher sales and volumes, plus a tax benefit. It also lowered its anticipated tariff hit.
The Delaware-based company reported second-quarter adjusted earnings per share (EPS) of $1.12 on revenue that increased 3% year-over-year to $3.26 billion. Analysts surveyed by Visible Alpha had expected $1.06 and $3.24 billion, respectively.
ElectronicsCo unit revenue increased 6% to $1.17 billion, driven by demand for artificial intelligence technology applications. Revenue at the IndustrialsCo segment was up 1% to $2.09 billion on growth in Healthcare & Water Technologies sales.
CEO Lori Koch said that as a result of the strong performance, DuPont was increasing its full-year outlook, which incorporates a new analysis tariffs. CFO Antonella Franzen said the company now sees 2025 adjusted EPS of approximately $4.40, with an impact of $0.04 per share from what it believes will be a $20 million headwind from tariffs. In the first quarter, Franzen predicted tariff costs of $60 million, with a $0.10 drag on adjusted EPS of $4.30 to $4.40.2
Koch added that the company is on track to complete its planned spinoff of its electronics business on Nov. 1.
Even with today’s near-4% gain, DuPont shares remain in negative territory for the year.
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Wall Street Even More Bullish on Palantir After Earnings
3 hr 3 min ago
Palantir Technologies (PLTR) shares show no signs of slowing down, with several Wall Street analysts increasing their price targets after the company’s strong earnings report.
Bank of America analysts noted that Palantir’s quarterly revenue rose 48% year-over-year to top $1 billion for the first time, and with margins of 46%, the firm’s “Rule of 40” score was 94%. As a result, they affirmed their “buy” rating on the stock and raised their price objective to $180 from $150, “mainly to reflect stronger growth and profitability.”
Morgan Stanley raised its Palantir price target to $155 from $88, noting its “significant margin expansion” and calling the company a “clear AI winner.”
Meanwhile, Deutsche Bank analysts increased their rating on the stock to “hold” from “sell,” and doubled their price target to $160 from $80.
Palantir shares were up nearly 7% at around $171 in midday trading, after hitting a record high of $176 this morning.
Vertex Dives After Disappointing Pain Medicine Trial
4 hr 25 min ago
Shares of Vertex Pharmaceuticals (VRTX) sank Tuesday, a day after the drugmaker announced a study showed its experimental pain medicine was not successful, and it would no longer move forward with its development.
The company said a Phase 2 trial of VX-993 “did not result in a statistically significant improvement on the primary endpoint of the time-weighted Sum of the Pain Intensity Difference from 0 to 48 hours (SPID48) compared to placebo.”
Chief Medical Officer Dr. Carmen Bozic said that the findings, along with other data on VX-993, indicated that the treatment was not expected to be superior to Vertex’s other NaV1.8 inhibitors, so “we will not be advancing it as monotherapy in acute pain.” The company was testing VX-993 as a follow-up to its NaV1.8 inhibitor drug, Journavx, which received Food and Drug Administration (FDA) approval in January.
The news offset Vertex’s better-than-expected second-quarter results. The company posted adjusted earnings per share of $4.52, with revenue rising 12% year-over-year to $2.96 billion. Both exceeded estimates of analysts surveyed by Visible Alpha. Most of its sales ($2.55 billion) came from its Cystic Fibrosis treatment known in the U.S. as Trikafta.
Vertez shares were down 17% in recent trading, pushing the stock into negative territory for 2025.
Palantir Soars on AI-Fueled Earnings Beat, Boosted Outlook
5 hr 19 min ago
Palantir (PLTR) shares soared in early trading Tuesday after the company reported second-quarter earnings that topped analysts’ expectations and raised its outlook on strong demand for its AI Platform.
The data analytics software company reported adjusted earnings of 16 cents on revenue that jumped 48% year-over-year to a record $1 billion, above Wall Street estimates.
CEO Alex Karp called it a “phenomenal quarter” that underlined “the astonishing impact of AI leverage.”
Andrew Caballero-Reynolds / AFP / Getty Images
The CEO said Palantir’s commercial business nearly doubled from a year ago, while its U.S. business grew 68%.
Looking ahead, Palantir said it sees third-quarter sales of $1.08 billion to $1.09 billion, and full-year revenue of $4.14 billion to $4.15 billion, up from $3.89 to $3.9 billion previously. Both ranges were well above analysts’ estimates compiled by Visible Alpha.
Palantir shares hit a record high this morning and were up 9% in recent trading. The stock has gained 130% since the start of 2025.
How Much AMD is Expected to Move After Earnings
6 hr 28 min ago
Advanced Micro Devices (AMD) is set to report second-quarter results after the closing bell on Tuesday, with traders anticipating a sizable move from the chipmaker’s stock.
Current options pricing suggests traders expect the stock could move more than 7% by the end of this week, from Monday’s close near $177. A move of that scale on the high side would push the stock just over $190, nearing its record in March of last year. At the low end, the stock could drop to about $163. The shares have gained more than 45% in 2025 so far.
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AMD shares rose close to 2% the day after the company’s first-quarter report, while they fell 6% and 10%, respectively, the days after the two previous reports. In May, the company beat estimates and gave a revenue forecast with a midpoint above the analyst consensus.
The chipmaker is widely expected to report rising sales, but falling profits for the second quarter, after AMD warned in May that it would likely take a hit from tighter restrictions on chip exports to China.
Wall Street analysts surveyed by Visible Alpha are divided on the stock, but lean more bullish than bearish, after AMD reportedly said it plans to resume exports of its MI308 chips to China, once authorized by U.S. authorities.
AMD shares were up 1% in recent premarket trading.
Major Index Futures Point to Slightly Higher Open
7 hr 13 min ago
Futures tied to the Dow Jones Industrial Average were up fractionally.
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S&P 500 futures rose 0.2%.
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Nasdaq 100 futures gained 0.4%.
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